ToddL99
Expert Alumni

Retirement tax questions

No, you do not need to send Form 1099-MISC to these web-based companies.

 

These companies are incorporated, and you don't need to report payments to them

 

Per the IRS:  You are not required to file information return(s) if any of the following situations apply:

  • You are not engaged in a trade or business.
  • You are engaged in a trade or business and
    • the payment was made to another business that is incorporated, but was not for medical or legal services or
    • the sum of all payments made to the person or unincorporated business is less than $600 in one tax year

 

Am I Required to File a Form 1099 or Other Information Return?

 

 

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